1974 History/Videos

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1974 Inflation continues to spiral out of control
around the world reaching 11.3% in the USA and 17.2% in the UK and the
global recession deepens. The famous skeleton "Lucy" is discovered
in Ethiopia which lived between 3.9 to 3 million years ago. More and more
smaller digital based consumer products appear in the shops and the earliest
forms of Word Processors appear which resemble a typewriter more than
a computer. After the findings of the Watergate Scandal Richard Nixon
becomes the first US president forced to resign from office.

Cost of Living 1974

How Much things cost in 1974
Yearly Inflation Rate USA 11.3%
Year End Close Dow Jones Industrial Average 616
Average Cost of new house $34,900.00
Average Income per year $13,900.00
Average Monthly Rent $185.00
Cost of a gallon of Gas 55 cents
Average cost new car $3,750.00
Samsonite Case $62.00

What Events Happened in 1974

IRA begins
bombing campaign on mainland Britainand bombs The Tower of London and
the Houses of parliament and pubs in Birmingham

Richard Nixon
becomes the first US president forced to resign after the Watergate
Scandal

Worldwide Inflation
helps to cause dramatic increases in the cost of fuel, food and manufacturing

Sears Tower
in Chicago becomes the worlds tallest building

The Global Recession
Deepens

Gasoline shortages
and price increases throughout the world help to cause problems in most
of the western worlds economies

Governments and
people around the world spend more time debating the use of Nuclear
Energy to combat problems with Oil Prices and Supply

Estimate of The
Worlds Population reaches 4 billion

Smallpox Epidemic
in India causes the deaths of between 10,000 and 20,000 people

Henry Kissenger
convinces Syria and Israel agree to a ceasefire on the Golan Heights

Patricia Hearst
Kidnappers Demand $70 of food be given to every needy Californian

In response to
the energy crisis, daylight saving time commences nearly four months
early in the United States.

Charles de Gaulle
Airport opens in Paris, France.

The largest series
of tornadoes in history, hits 13 U.S. states and one Canadian
province. By the time the last of 148 tornadoeshit early the following
morning, 315 died and over 5,000 were injured.

British Coal Miners
join many other unions striking for higher wages

India successfully
detonates its first nuclear weaponbecoming the sixth nation to do so.

Cyclone Tracy
almost completely destroys Darwin, Australia

Famine caused
by drought threatens millions in Africa

The French President
Georges Pompidou dies while in Office

Following a crippling
strike, Northern Ireland's first power-sharing assembly collapses

Work begins on
the 800 mile long Alaska Oil pipeline

Bloodless Military
coup led by General Antoniio de Spinola, in Portugal

President Isabela
Peron ( Evita ), Juan Peron's third wife, becomes President of Argentina
when her husband died.